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	<title>Comments on: Why Is The Chamber Of Commerce Defending Big Banks?</title>
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	<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/</link>
	<description>What happened to the global economy and what we can do about it</description>
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		<title>By: Tony Frank</title>
		<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/#comment-32499</link>
		<dc:creator><![CDATA[Tony Frank]]></dc:creator>
		<pubDate>Sat, 31 Oct 2009 23:08:37 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=5272#comment-32499</guid>
		<description><![CDATA[One word answer, MONEY]]></description>
		<content:encoded><![CDATA[<p>One word answer, MONEY</p>
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		<title>By: Ray</title>
		<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/#comment-32222</link>
		<dc:creator><![CDATA[Ray]]></dc:creator>
		<pubDate>Wed, 28 Oct 2009 11:32:52 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=5272#comment-32222</guid>
		<description><![CDATA[Poor, poor Chamber of Commerce.  They are sending out e-mails claiming to be under attack by evil liberal groups simply because they are standing up for American businesses.]]></description>
		<content:encoded><![CDATA[<p>Poor, poor Chamber of Commerce.  They are sending out e-mails claiming to be under attack by evil liberal groups simply because they are standing up for American businesses.</p>
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		<title>By: Silke</title>
		<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/#comment-31556</link>
		<dc:creator><![CDATA[Silke]]></dc:creator>
		<pubDate>Thu, 22 Oct 2009 12:23:33 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=5272#comment-31556</guid>
		<description><![CDATA[keep in mind that wherever one head was cut off two grew and that it took two working together to make it possible at all
http://en.wikipedia.org/wiki/Lernaean_Hydra
(great pictures posted there also)
worrying detail which I had forgotten or never knew:
the last, the immortal head was buried under a stone - is it still there?]]></description>
		<content:encoded><![CDATA[<p>keep in mind that wherever one head was cut off two grew and that it took two working together to make it possible at all<br />
<a href="http://en.wikipedia.org/wiki/Lernaean_Hydra" rel="nofollow">http://en.wikipedia.org/wiki/Lernaean_Hydra</a><br />
(great pictures posted there also)<br />
worrying detail which I had forgotten or never knew:<br />
the last, the immortal head was buried under a stone &#8211; is it still there?</p>
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		<title>By: Ray Schiller</title>
		<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/#comment-31532</link>
		<dc:creator><![CDATA[Ray Schiller]]></dc:creator>
		<pubDate>Thu, 22 Oct 2009 02:06:55 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=5272#comment-31532</guid>
		<description><![CDATA[Good graphic description of my idea.
RS]]></description>
		<content:encoded><![CDATA[<p>Good graphic description of my idea.<br />
RS</p>
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		<title>By: Ray Schiller</title>
		<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/#comment-31531</link>
		<dc:creator><![CDATA[Ray Schiller]]></dc:creator>
		<pubDate>Thu, 22 Oct 2009 01:59:22 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=5272#comment-31531</guid>
		<description><![CDATA[Adding to my previous post: If derivatives are outlawed, and after the breakup of the big banks we are thus left with a plain vanilla system spread through many smaller-cap institutions, would that work?? That&#039;s a question to consider, I think.]]></description>
		<content:encoded><![CDATA[<p>Adding to my previous post: If derivatives are outlawed, and after the breakup of the big banks we are thus left with a plain vanilla system spread through many smaller-cap institutions, would that work?? That&#8217;s a question to consider, I think.</p>
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		<title>By: Uncle Billy Cunctator</title>
		<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/#comment-31530</link>
		<dc:creator><![CDATA[Uncle Billy Cunctator]]></dc:creator>
		<pubDate>Thu, 22 Oct 2009 01:57:52 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=5272#comment-31530</guid>
		<description><![CDATA[http://th05.deviantart.com/fs17/300W/f/2007/155/0/3/Hydra_by_el_grimlock.jpg]]></description>
		<content:encoded><![CDATA[<p><a href="http://th05.deviantart.com/fs17/300W/f/2007/155/0/3/Hydra_by_el_grimlock.jpg" rel="nofollow">http://th05.deviantart.com/fs17/300W/f/2007/155/0/3/Hydra_by_el_grimlock.jpg</a></p>
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		<title>By: Ray Schiller</title>
		<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/#comment-31528</link>
		<dc:creator><![CDATA[Ray Schiller]]></dc:creator>
		<pubDate>Thu, 22 Oct 2009 01:44:04 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=5272#comment-31528</guid>
		<description><![CDATA[If the big banks are broken up, is that a guarantee that the remaining financial institutions, which are interconnected in myriads of ways, will not collectively become too-big-to-fail? Is there some serious block to them becoming infected - collectively - with dangerous derivatives? I think not. Rather, I think that may become a wave of the future.]]></description>
		<content:encoded><![CDATA[<p>If the big banks are broken up, is that a guarantee that the remaining financial institutions, which are interconnected in myriads of ways, will not collectively become too-big-to-fail? Is there some serious block to them becoming infected &#8211; collectively &#8211; with dangerous derivatives? I think not. Rather, I think that may become a wave of the future.</p>
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		<title>By: Bayard</title>
		<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/#comment-31521</link>
		<dc:creator><![CDATA[Bayard]]></dc:creator>
		<pubDate>Wed, 21 Oct 2009 23:09:22 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=5272#comment-31521</guid>
		<description><![CDATA[It&#039;s been said already, but I will reiterate and enhance.  Local Chambers represent their local member small businesses (from who they gain their funding, and they lobby the state and local governments for small business.  Because these Chambers are local (although a part of the national chamber), they don&#039;t even care about the big business interests, except to protect their members from unfair competition.  The national Chamber represents large business.  Don&#039;t let the size of their membership fool you, their primary support comes from VERY LARGE BUSINESSES, like the big banks.

They have been bought, and now are members of the plutocracy&#039;s lobby.  So, they can&#039;t lobby for the national small business owners, because it would be an attack on the folks who pay the bills.  They really are a wing of the Republican Party, and the locals are conservative, but not necessarily Republican.]]></description>
		<content:encoded><![CDATA[<p>It&#8217;s been said already, but I will reiterate and enhance.  Local Chambers represent their local member small businesses (from who they gain their funding, and they lobby the state and local governments for small business.  Because these Chambers are local (although a part of the national chamber), they don&#8217;t even care about the big business interests, except to protect their members from unfair competition.  The national Chamber represents large business.  Don&#8217;t let the size of their membership fool you, their primary support comes from VERY LARGE BUSINESSES, like the big banks.</p>
<p>They have been bought, and now are members of the plutocracy&#8217;s lobby.  So, they can&#8217;t lobby for the national small business owners, because it would be an attack on the folks who pay the bills.  They really are a wing of the Republican Party, and the locals are conservative, but not necessarily Republican.</p>
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		<title>By: thoughtbasket</title>
		<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/#comment-31512</link>
		<dc:creator><![CDATA[thoughtbasket]]></dc:creator>
		<pubDate>Wed, 21 Oct 2009 20:44:37 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=5272#comment-31512</guid>
		<description><![CDATA[Small business needs a dedicated lobbying group that is focused on entrepreneurial needs. The Chamber of Commerce clearly doesn&#039;t represent us, and the NFIB is historically just an arm of the GOP. The Chamber has demonstrated repeatedly that it represents only the largest companies, but does so on the reputation of small businesses and the employment they create.]]></description>
		<content:encoded><![CDATA[<p>Small business needs a dedicated lobbying group that is focused on entrepreneurial needs. The Chamber of Commerce clearly doesn&#8217;t represent us, and the NFIB is historically just an arm of the GOP. The Chamber has demonstrated repeatedly that it represents only the largest companies, but does so on the reputation of small businesses and the employment they create.</p>
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		<title>By: Brian</title>
		<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/#comment-31446</link>
		<dc:creator><![CDATA[Brian]]></dc:creator>
		<pubDate>Wed, 21 Oct 2009 13:15:06 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=5272#comment-31446</guid>
		<description><![CDATA[Once again - follow the money trail.  I don&#039;t know this for a fact but if you look at the Chamber&#039;s membership and financial supporters, I would wager that you will find big banks a significant factor.  Enough said - move on.]]></description>
		<content:encoded><![CDATA[<p>Once again &#8211; follow the money trail.  I don&#8217;t know this for a fact but if you look at the Chamber&#8217;s membership and financial supporters, I would wager that you will find big banks a significant factor.  Enough said &#8211; move on.</p>
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		<title>By: Silke</title>
		<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/#comment-31444</link>
		<dc:creator><![CDATA[Silke]]></dc:creator>
		<pubDate>Wed, 21 Oct 2009 12:53:57 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=5272#comment-31444</guid>
		<description><![CDATA[an office is an environment where there is somebody to reprimand you, so is a shop, if others tolerate it, it is up to them; I&#039;ll keep yelling against it - if our shops also surveille by now that may be an explanation why so many of those employed there feel more and more like robots 

- our labour representatives are fighting hard and still successfully to limit surveillance by employers - whenever something like recently with our discounter Lidl gets media attention, the public outcry is huge, sales suffer, they have to make amends and they have to be much more careful next time around not to stretch the boundaries of the permitted (Lidl had the tough luck and &quot;we&quot; had the good luck that one or several of the cameras installed gave a bit of a view of customers punching in their PINs - Lidl ran for weeks and weeks after that all kinds of charity actions and promised to be good without end i.e. as the public cares it is worthwhile for the media to go after them)

- but I get told that as far as surveillance is concerned we take it more seriously than other countries and I am all for taking it as seriously as possible (on the other hand we supervise eachother closely on whether we separate our garbage correctly and would probably love to have cameras there so the evildoers could be identified ;-)]]></description>
		<content:encoded><![CDATA[<p>an office is an environment where there is somebody to reprimand you, so is a shop, if others tolerate it, it is up to them; I&#8217;ll keep yelling against it &#8211; if our shops also surveille by now that may be an explanation why so many of those employed there feel more and more like robots </p>
<p>- our labour representatives are fighting hard and still successfully to limit surveillance by employers &#8211; whenever something like recently with our discounter Lidl gets media attention, the public outcry is huge, sales suffer, they have to make amends and they have to be much more careful next time around not to stretch the boundaries of the permitted (Lidl had the tough luck and &#8220;we&#8221; had the good luck that one or several of the cameras installed gave a bit of a view of customers punching in their PINs &#8211; Lidl ran for weeks and weeks after that all kinds of charity actions and promised to be good without end i.e. as the public cares it is worthwhile for the media to go after them)</p>
<p>- but I get told that as far as surveillance is concerned we take it more seriously than other countries and I am all for taking it as seriously as possible (on the other hand we supervise eachother closely on whether we separate our garbage correctly and would probably love to have cameras there so the evildoers could be identified ;-)</p>
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		<title>By: carol</title>
		<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/#comment-31428</link>
		<dc:creator><![CDATA[carol]]></dc:creator>
		<pubDate>Wed, 21 Oct 2009 08:43:36 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=5272#comment-31428</guid>
		<description><![CDATA[&quot;I imagine once the economy stabilizes the federal government will revisit breaking up banks that are TBTF. &quot;

??????
This seems backwards to me. It is the other way &#039;round, and WITHOUT the speculative IB side of Wall Street.

We need -- among many others -- stable, utility (retail: deposit saving and prudent loaning) banks to get a sustainable economy. 

Simon Johnson and others have argumented that there was a small window of opportunity for change: jan - april &#039;09. The window has closed.


&quot;My guess is Pres. Obama would tackle that issue in his 2nd term if re-elected.&quot;

????????
Wait a minute: here we have a President, with his party a majority in congress (till the mid-term election next year), who has campaigned on a platform of change. Remember the joyful parties of people celebrating after election night: it really felt like impeachment by the people of the former administration. And now, clearly, we have ZERO CHANGE vis-a-vis Wall Street banksters!
If you guess Obama will be re-elected, to make good on his promise of the last election, then my guess is, your guess is wrong. Obama is heading for a 1 term presidency, like Bush Sr.]]></description>
		<content:encoded><![CDATA[<p>&#8220;I imagine once the economy stabilizes the federal government will revisit breaking up banks that are TBTF. &#8221;</p>
<p>??????<br />
This seems backwards to me. It is the other way &#8217;round, and WITHOUT the speculative IB side of Wall Street.</p>
<p>We need &#8212; among many others &#8212; stable, utility (retail: deposit saving and prudent loaning) banks to get a sustainable economy. </p>
<p>Simon Johnson and others have argumented that there was a small window of opportunity for change: jan &#8211; april &#8217;09. The window has closed.</p>
<p>&#8220;My guess is Pres. Obama would tackle that issue in his 2nd term if re-elected.&#8221;</p>
<p>????????<br />
Wait a minute: here we have a President, with his party a majority in congress (till the mid-term election next year), who has campaigned on a platform of change. Remember the joyful parties of people celebrating after election night: it really felt like impeachment by the people of the former administration. And now, clearly, we have ZERO CHANGE vis-a-vis Wall Street banksters!<br />
If you guess Obama will be re-elected, to make good on his promise of the last election, then my guess is, your guess is wrong. Obama is heading for a 1 term presidency, like Bush Sr.</p>
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		<title>By: Uncle Billy Cunctator</title>
		<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/#comment-31426</link>
		<dc:creator><![CDATA[Uncle Billy Cunctator]]></dc:creator>
		<pubDate>Wed, 21 Oct 2009 08:14:51 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=5272#comment-31426</guid>
		<description><![CDATA[Jessica,

I always felt guilty about Will Durant.  I got &lt;i&gt;The Story of Civilization&lt;/i&gt; free for signing up with Book of the Month Club, but then cancelled the membership.  The things that stuck with me all these years was a) how much he liked and cared about people b) how he and Ariel seemed to be one person:

&quot;The Durants also shared a love story as remarkable as their scholarship; they detail this in Dual Autobiography. After Will went into the hospital, Ariel stopped eating. Will died after he heard that Ariel had died. They died within two weeks of each other in 1981 (she on October 25 and he on November 7). Though their daughter, Ethel, and grandchildren strove to keep the death of his Ariel from the ailing Will, he learned of it on the evening news, and he himself died at the age of 96. He was buried beside his wife in Westwood Village Memorial Park Cemetery in Los Angeles.&quot;

http://en.wikipedia.org/wiki/Will_Durant

&quot;Throw the bums out&quot; expresses the sentiment well, except that the bums are people too, so I&#039;d translate it more &quot;throw them all out.&quot;  Perhaps James and other legal scholars can guide us on how to do this.  The constitution seems to require a little makeover.]]></description>
		<content:encoded><![CDATA[<p>Jessica,</p>
<p>I always felt guilty about Will Durant.  I got <i>The Story of Civilization</i> free for signing up with Book of the Month Club, but then cancelled the membership.  The things that stuck with me all these years was a) how much he liked and cared about people b) how he and Ariel seemed to be one person:</p>
<p>&#8220;The Durants also shared a love story as remarkable as their scholarship; they detail this in Dual Autobiography. After Will went into the hospital, Ariel stopped eating. Will died after he heard that Ariel had died. They died within two weeks of each other in 1981 (she on October 25 and he on November 7). Though their daughter, Ethel, and grandchildren strove to keep the death of his Ariel from the ailing Will, he learned of it on the evening news, and he himself died at the age of 96. He was buried beside his wife in Westwood Village Memorial Park Cemetery in Los Angeles.&#8221;</p>
<p><a href="http://en.wikipedia.org/wiki/Will_Durant" rel="nofollow">http://en.wikipedia.org/wiki/Will_Durant</a></p>
<p>&#8220;Throw the bums out&#8221; expresses the sentiment well, except that the bums are people too, so I&#8217;d translate it more &#8220;throw them all out.&#8221;  Perhaps James and other legal scholars can guide us on how to do this.  The constitution seems to require a little makeover.</p>
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		<title>By: Uncle Billy Cunctator</title>
		<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/#comment-31424</link>
		<dc:creator><![CDATA[Uncle Billy Cunctator]]></dc:creator>
		<pubDate>Wed, 21 Oct 2009 07:50:17 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=5272#comment-31424</guid>
		<description><![CDATA[I don&#039;t see it in those terms, but it is an interesting question.  The cameras would of course be disclosed upfront.  Not sure I made that clear.  Anyone who doesn&#039;t want to work under those conditions is free to not take the job.  Not sure, also, what would happen during personal moments at work. If someone were to receive a personal call and want to get off camera for a few minutes, would the organization lose all credibility because the public questions the nature of that call?  

I don&#039;t know how pervasive cams and recording is in the states in office environments.  The whole office-cam-broadcast-to-the-internet phenom seems to have died off, but on the other hand retail store owners, equipped with inexpensive surveillance, are now able to watch their employees 24/7 from anywhere in the world.  Cameras are always running, focused on tills, in many businesses, so it looks like we have been living with the general concept fairly well, for a while now.  From what I&#039;ve seen, though, it&#039;s just video, no audio, which is what such a venture would require.]]></description>
		<content:encoded><![CDATA[<p>I don&#8217;t see it in those terms, but it is an interesting question.  The cameras would of course be disclosed upfront.  Not sure I made that clear.  Anyone who doesn&#8217;t want to work under those conditions is free to not take the job.  Not sure, also, what would happen during personal moments at work. If someone were to receive a personal call and want to get off camera for a few minutes, would the organization lose all credibility because the public questions the nature of that call?  </p>
<p>I don&#8217;t know how pervasive cams and recording is in the states in office environments.  The whole office-cam-broadcast-to-the-internet phenom seems to have died off, but on the other hand retail store owners, equipped with inexpensive surveillance, are now able to watch their employees 24/7 from anywhere in the world.  Cameras are always running, focused on tills, in many businesses, so it looks like we have been living with the general concept fairly well, for a while now.  From what I&#8217;ve seen, though, it&#8217;s just video, no audio, which is what such a venture would require.</p>
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		<title>By: Observer</title>
		<link>http://baselinescenario.com/2009/10/20/why-is-the-chamber-of-commerce-defending-big-banks/#comment-31423</link>
		<dc:creator><![CDATA[Observer]]></dc:creator>
		<pubDate>Wed, 21 Oct 2009 07:01:31 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=5272#comment-31423</guid>
		<description><![CDATA[Interesting to see the support building against TBTF banks....Bank of England Governor King, Greenspan and Volcker.  I imagine once the economy stabilizes the federal government will revisit breaking up banks that are TBTF.  My guess is Pres. Obama would tackle that issue in his 2nd term if re-elected.]]></description>
		<content:encoded><![CDATA[<p>Interesting to see the support building against TBTF banks&#8230;.Bank of England Governor King, Greenspan and Volcker.  I imagine once the economy stabilizes the federal government will revisit breaking up banks that are TBTF.  My guess is Pres. Obama would tackle that issue in his 2nd term if re-elected.</p>
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